Dear Liz: Is naming a beneficiary for a nonretirement, “payable on death” account as effective as putting the account in a living trust? It seems easier than doing all the paperwork each time I open an account, but is it a good idea? Answer: Both living trusts and payable on death accounts avoid probate, the court process […]
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This week’s money news
This week’s top story: Harris v. Trump on student loans. In other news: What the Fed’s rate cutting plans mean for the housing market, what small-business owners need to know about digital security, and how to watch football without cable. Harris v. Trump on Student Loans: Where the Candidates Stand As president, Harris would likely champion […]
Q&A: More about health savings accounts and the ‘deathbed drawdown’
Dear Liz: I just read your column on HSA accounts. I was with you right up until “deathbed drawdown.” I sincerely hope that I am not thinking about my HSA when I am nearing death. I’d just rather pay the tax. Answer: That’s certainly your prerogative, but financial planners note that good record keeping can allow those with […]
Q&A: Spreading the wealth in health savings accounts
Dear Liz: I have a family health savings account with a qualifying high-deductible health insurance plan. The HSA will become my individual account when my youngest turns 26 and no longer qualifies for our insurance plan. My husband can’t contribute to an HSA because he’s on Medicare. I have read that if I die before him, […]
Q&A: A retirement catch-22 and health savings accounts
Dear Liz: My wife and I are withdrawing an unusually large amount from our IRAs in order to make a 20% down payment on the construction of a new retirement home. This withdrawal will, unfortunately, bring our modified adjusted gross income above the limits that will cause increases in our Medicare premiums in 2026. Is there […]
Q&A: An ex-husband is delaying his Social Security benefits. Must she wait, too?
Dear Liz: I read your column about divorced spousal benefits for Social Security. I was divorced as of Jan. 1. My ex-husband will be 65 next year and wants to delay benefits until he’s 67. Must I wait to get spousal benefits until then because of his decision? I also will be 65 next year. We […]